The purpose of a marketing strategy is to maximize short-term profits. Show False Reason: A marketing strategy identifies the bases on which the firm plans to build a long-term competitive advantage. The macro strategies for developing customer value include each of the following Operational excellence Locational excellence product excellence Continuing to shop at Dunkin' Donuts even if Starbucks opens more convenient locations and offers slightly lower prices is an example of Loyalty to a company in consumers daily life Firms achieve operational excellence through which of the following? Good supply chain management Strong relationships with suppliers Efficient operations Product excellence is achieved by _______ having products with high perceived value and effective branding and positioning A ______ identifies a firm's target markets, a related marketing mix, and the bases upon which the firm plans to build a sustainable competitive advantage. A competitive advantage based on location is______. is sustainable when real estate is difficult or expensive to obtain Which of the following is one of the macro strategies for developing customer value through effective branding and positioning? Which of the following is LEAST effective when building a sustainable competitive advantage? using only a single strategy A marketing plan includes all of the following EXCEPT ______. a plan on how to pitch to investors ______ is achieved through efficient operations, excellent supply chain management, and strong relationships with suppliers. The three major phases of the marketing plan are ______. planning, implementation, and control Which of the following is the primary question a mission statement should answer? What type of business are we? A ______ is a written document that includes the current marketing situation, specified objectives and strategies, action programs, and projected income statements. a mission statement defines _____________ the scope of activities a firm plans to undertake What does the term strengths refer to in SWOT analysis? The positive internal attributes of a firm Licensing of the brand, a reputation for quality, and a large number of retail stores are examples of potential ______. These refer to a firm's internal attributes as identified during a SWOT analysis. Step 2 of a marketing plan involves which of the following? situation analysis using SWOT STP includes which of the following? Segmentation Positioning Targeting With ______, the firm first divides the marketplace into subgroups, determines which of those subgroups it should pursue, and finally decides how it should best position its product or service. A firm can begin to implement the marketing mix immediately after which step? After it has finished segmentation, targeting, and positioning Step 5 of the marketing plan involves ______. evaluating the results of the strategy and implementation program A metric is a ______ that quantifies a trend, dynamic, or characteristic. Why do firms use metrics in Step 5 of the marketing plan? To make it possible to compare results across regions, product lines, and time periods To make appropriate adjustments to performance During which step of the marketing plan do marketers make important decisions about how they will allocate their scarce resources to their various products and services? Some commonly used financial performance metrics include which of the following? In ______ analysis, management evaluates the firm's various products and businesses, then allocates resources according to potential profit outlook. In Stage 5, the purpose of a(n) ____________ evaluation is to figure out problem areas. A ______ is a division of the firm itself that can be managed and operated independently from other divisions. Firms consider pursuing various ______ as part of their overall growth strategies. A market ______ growth strategy focuses on increasing sales of the firm's current products to its current target markets. Which statement is true regarding SBUs? An SBU may have a different mission or objective from other divisions. When a company that makes protein bars for long-distance runners starts selling the same bars to busy parents as a quick breakfast, it is using which growth strategy? What are reasons why strategic planning may NOT occur sequentially? When new logical alternatives arise When the implementation plan cannot move forward because there are too few resources When a situation analysis necessitates that the mission statement be revised A ______ strategy introduces a new product or service to a new market segment, one that the firm has not yet targeted. In which type of diversification strategy does a firm enter into an entirely new business? What are the 3 parts to any marketing strategy?With that in mind, a "brilliant marketing plan" will have these three components:. Messages that potential customers find relevant and timely. ... . Measurable vehicles for disseminating those messages. ... . Methods that easily and profitably convert prospects into customers.. What is step 3 in flow of the marketing plan?Step 3: Identify Your Target Personas
You probably know the profile of your most valuable prospects and the sales process your company uses to convert them from leads to opportunities to customers.
Which of the following are part of three stages of marketing?It is the journey or buying process that consumers go through to become aware of, evaluate, and purchase a new product or service, and it consists of three stages that make up the inbound marketing framework: awareness, consideration, and decision.
What does the third section of a marketing strategy statement of a new product describe?The third part of the marketing strategy statement describes the planned long-run sales, profit goals, and marketing mix strategy. Step 5- Business Analytics: A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives.
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The third part of the marketing strategy statement includes all of the following except ________.
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